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British builder Fairline Boats has potential suitors

Several companies are discussing purchasing British builder Fairline Boats.

Several companies are discussing purchasing British builder Fairline Boats, which last month entered into administration, which is equivalent to Chapter 11 restructuring in the United States.

A spokesman for administrators FRP Advisory declined to give details about potential buyers or the progress of any talks but said it could be three months before a deal is concluded, according to a story in the Peterborough Telegraph newspaper.

Fairline went into administration Dec. 2, two months after being bought by equity firm Wessex Bristol for a deferred sum of £2 million, nearly $3 million (U.S.). Three weeks before Christmas, 380 jobs were eliminated, with 69 staff kept to service existing orders.



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